Kuwait - Updates to Ultimate Beneficial Owner Regulations
On 16 April 2026, the Ministry of Commerce and Industry (MOCI) issued Ministerial resolution No. 37 of 2026 (The resolution), which amends certain provisions of Ministerial Decision No. 4 of 2023 regarding procedures for identifying the UBO.
The above is applicable to all types of entities including but not limited to Sole proprietors, Partnerships, Limited liability companies, Private corporations etc. registered with the MOCI.
Highlights of the Resolution
We have outlined the details of Article no.1 of the recent resolution as follows:
- License regulations: No license will be granted or renewed unless all requirements of this resolution are fully satisfied.
- Administrative fines for non-compliance: Administrative penalties ranging between KD 1,000 up to KD 10,000 will be imposed for failure to disclose or inaccuracies identified regarding the UBO.
- Accountability measures: Fines will also apply to any natural person knowingly registered as an erroneous UBO or involved in misreporting information
Deloitte’s recommendation for legal entities in Kuwait
We recommend that legal entities registered in Kuwait be aware of the disclosure requirements outlined in the approved Decree and meet the necessary compliance obligations to mitigate adverse repercussions or any penalties.
Deloitte is pleased to assist your company in assessing how the resolution may affect your business operations. We are prepared to offer thorough compliance support with the new regulation for our clients, addressing specific conditions, documentation requirements, and timelines.
